The housing market is shifting, and remodeling your home is one of the best ways to either keep up or jump on that housing trend. (Or just upgrade your home to increase resale value https://renovationworks.co.nz.) But remodeling isn’t cheap!
When planning new house improvements, most homeowners have 3 primary concerns: budget, people, and time. The first concern is the budget. In order to minimize costs, homeowners need to know how much they can and have to spend. The second concern is the people. Will there be any family members or friends helping out? If yes, how much time can they take? The third concern is time. How long will the remodel take? The answers to these questions will have an impact on the overall cost of completing the project.
Read on to find out different ways to cut costs on your house remodel.
1. Assess The Project
If you are looking to add value and space to your home, the most cost-effective way to do so is to carry out internal renovations, such as adding an extension, adding a loft conversion, or knocking down a wall to create more space.
The value of a property can increase from 10-30% if it is extended, and you will not be subject to the costs of moving home. It is always a good idea to assess the value of your property before you begin any renovation project – this will ensure that your project is likely to add value to your home.
2. Plan and Budget
Planning and budgeting for any type of building work is crucial, and working out how much you have available to spend on the project is an essential part of the planning process. Renovation costs vary depending on the size and condition of your home and the extent of the work you intend to complete.
If you are planning a major structural renovation then this will likely be the biggest chunk of your budget, whereas if you are focused on providing a makeover to your interiors then the costs of fitting out this space will be the main bulk of your expenses.
3. Look for a Contractor
It’s true: even the most avid do-it-yourselfers eventually run up against a job that they can’t do – or that they don’t want to do – on their own.
There’s nothing wrong with this. Even the most experienced DIYers make the occasional mistake; it’s surprising how many of them you’ll find online, detailing how they dug a big hole for a project, only to realize too late that what they thought was a corner of their basement was actually the outside wall of another house.
Hiring a contractor will minimize renovation costs because you will have access to lots of useful information. A good contractor will provide you with several options for the scope of work, the number of materials to be used, the various options for financing, and so on. A good contractor will also help you choose the best options for the renovation of your home because he or she has seen and done most of the work before.
4. Avoid Debt
Homeowners might be tempted to take on debt to finance their renovation projects. While the thought of having the money to pay for the renovation project right away is appealing, doing so may result in more costs in the long run. Using a credit card for emergency funds is not recommended as it is more difficult to manage and pay off than a typical loan.
Homeowners can lower their total renovation costs if they avoid taking on debt. Instead of borrowing money, homeowners can save up for the renovation project. Saving money over the course of several months or years can ultimately save homeowners from paying interest on home improvement costs.
In the short term, paying for a home renovation project with a credit card can be beneficial. However, it can be costly in the long run.
5. Re-use Materials
It’s true – you don’t need to throw out those old cabinets. It’s also true that you can easily paint your cabinets for a new look. However, there are other ideas that you can use to make some new look besides painting your cabinets.
The cabinets are probably original to the house and were installed when the house was built. They might be beautiful but they may also be a bit dated. If they don’t fit with the new paint color scheme, or if you want a different look, you can paint them without hurting their resale value. All you need is a good quality primer and paint. You might want to consult with a professional, but you can do the job yourself. Just be sure to use a quality primer and paint.
6. If You Can Help It, Avoid Moving Plumbing
The vast majority of home remodeling projects will require that you adjust the plumbing. However, you can avoid moving the kitchen sink and toilets if you want to cut costs.
Moving a kitchen sink can be a tricky and difficult process, especially if the plumbing has been cut or modified in any way. Similarly, toilets can be a challenge to move, and the more modern and heavy-duty the toilet, the more difficult it will be to move. There are no hard and fast rules as to whether you should move your kitchen sink and toilet before or after the renovation. It will depend on the circumstances of your renovation, your budget, and your personal preference.
7. Switch To An Affordable Energy Plan
The utility costs of home renovations are borne by the homeowner in most cases. If that’s the case, then one should make sure to switch to an affordable energy plan to keep utility bills under control.
If you’re planning on renovating your home and you’re worried about the costs, it’s time to switch to an affordable energy plan. Homeowners often have to bear the cost of utility bills due to the high cost of some home renovations.
If you’re planning on remodeling your kitchen or bathroom, you may spend more on utilities. Switching to an affordable energy plan can help you save a lot of money and is the best way to manage soaring utility bills.
8. Buy Repurposed Materials
Recycling units, junkyards, and hardware stores are all good places to source second-hand building products. The key is to know what to look for when purchasing used materials. If you are planning a major renovation, for instance, buying new timber is likely to be more cost-effective than buying second-hand. Check the quality of the product.
One way to do this is by checking whether it is free from cracks or has been treated or finished to prevent or slow the spread of decay. If you are renovating, for instance, you can use salvaged timber for the frame but replace the flooring.
There is always room for improvement, and there are many ways to keep your home looking the best when remodeling. However, it’s essential that you fully understand the renovations you want to be done. Otherwise, you could easily waste a lot of time and money on one task or another. Ensure that your plan includes everything that will give you the most value.